I know you’ve heard me quote this statistic before, but I’m going to do it again because it’s so powerful. The average millionaire has 7 streams of income. That basically means that they have money coming in from 7 different sources, including popular side hustles.
I'm not talking just a primary, full-time income, but income from other areas too. So, what does this mean for you? Well, it means you need to think about how you bring in money. There are plenty of popular side hustles to try, if you only have one income source.
How are you bringing in money?
This is a question that a lot of us don’t really focus on. Of course, we all know we need to “work” to make money, but think about all of the different ways money comes to you. Do you have a full-time job? Do you have a second part-time job? Do you receive dividends from your investments? Do you rent out a room for more money?
When you start thinking about all of the means you are currently bringing in money, it can help you focus on increasing the number that comes your way from those means. It also can help you think about how you can bring in more money. If your only source of income is your full-time job, you need to think bigger. I say that because, what would happen if you got laid off? If that’s your only stream of income, you would be out of luck.
Popular Side Hustles to Try
Since having one source of income can be very risky, expanding your income sources reduces your risk and ensures you will always have money coming in. This is very important, especially if your one income source is not guaranteed. I’m going to share a few popular side hustles that people are digging into now to increase their revenue streams!
Often times, when people hear driving as a side hustle, they automatically assume Lyft or Uber. But, guess what? There are plenty of other driving opportunities out there. While I think Uber and Lyft (especially when done at the same time), are great options, they are not the only options. A few other driving opportunities include Postmates, Grubhub, Door Dash, and local delivery or logistics companies.
My brother owns a logistics company here in Austin. He seeks out drivers on Craigslist to help with requested pick up and drop offs from companies. The items being delivered range from food to flowers to documents. He advertises on Craigslist and looks to hire new drivers weekly. I’m sure he’s not the only one in this field, so do your research if this is something you’d enjoy doing on the side.
The coaching industry has surged in the past few years. You can hire a coach to help you do anything nowadays. There are coaches for finance and budgeting (hello, you all know I’m a budget coach for City Girl Savings). There are coaches for health, fitness, marketing, starting a business, dressing properly, speaking properly, and a variety of other areas.
My point is that if you are skilled in a particular area, and you wouldn’t mind making money from your skills, going into the coaching industry isn’t a bad idea. How do you know if being a coach would work out for you? Well, do people always ask for your help in a certain area? That could be a good sign right there. Make sure it’s something you enjoy doing, just in case it turns out to be a long-term thing!
If you don’t want to start your own business, but wouldn’t mind working for an already-established company, there are plenty of opportunities to be a sales rep. Companies like Stella & Dot, Paparazzi Jewelry, Arbonne skincare products, Crunchi beauty products, and Chloe and Isabel offer these types of independent sales roles. You can sign up with these companies to sell their products. Any money you make pays for your products and leaves you with the profit!
Another popular side hustle as of late is becoming a virtual assistant. If you like to do administrative-type tasks, work on websites and social media, or do graphic design, becoming a virtual assistant is a great way to bring in extra cash. A virtual assistant is basically what the name suggests. They provide online assistance to people, businesses, and start-ups.
The hourly rate for a virtual assistant can vary based on the services provided, but if you are good with digital tasks, this can be a great option. The good thing about doing any kind of digital work is that you can do it anytime. You don’t have a set time throughout the day to do your work. This means you can do it in conjunction with other work.
You guys know I’m very big on leveraging blogging to make extra money. I think it can change the game, especially since our world is becoming more and more digital. In the article How to Start a Money-Making Blog, I walk you through getting your blog set up and making sure it’s ready to start bringing in money for you. If you’re passionate about a specific topic, or enjoy writing about your life and thoughts, blogging is the perfect side hustle to add to your list of income sources!
The last popular side hustle I’d recommend is becoming a freelancer. You can do this digitally or in-person. Online companies like Fiverr and Upwork allow you to sell your services to people specifically looking for what you offer. There are a variety of services offered, so if you aren’t sure what you can offer, check out the websites to see what other people are doing.
Related: 15 Ideas to Earn a Quick Buck
These are just 6 popular side hustles for right now, but there are so many other ways you can bring in more money. You have to get creative, do your research, and be willing to put in the work. However, if you can do those 3 things, you can make a lot more money! Do you currently have any side hustles? If so, what are they? How many income sources do you have? Post a comment below to share!
The CGS Team